Aldi has opened its 1,000th store in the UK and has committed to opening 500 more.

As part of a £1.3 billion investment plan, the discounter will open around 20 new stores by the end of the year.

Aldi said that according to figures from Kantar, it is Britain’s fourth biggest grocer and one in every ten pounds spent at British supermarkets goes through its tills.

The company added that around two thirds of Brits shop in its stores, suggesting that the new locations will meet the growing demand as customers switch to Aldi.

“Our popularity is growing, and there is huge demand for people to have an Aldi store near to them to increase shoppers’ access to our unbeatable prices,” said Giles Hurley, chief executive of Aldi UK and Ireland. “The next phase of our expansion will involve another 500 new stores over the coming years. It is a long-term target and is not a ceiling to our ambition to have an Aldi store close to everyone in the UK.”

The move follows the news that Aldi has been named as the UK’s cheapest supermarket for the fifteenth consecutive month in a row. According to research by Which?, a basket of shopping is around £8 cheaper than a comparable one at Tesco.

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